What Challenges Might Entrepreneurs Face During a Product Launch?
Entrepreneurs often encounter several challenges during a product launch:
1. Competition: Existing competitors may have a stronghold in the market. 2. Budget Constraints: Financial limitations can restrict marketing and promotional activities. 3. Timing: Launching too early or too late can impact the product’s success. 4. Market Readiness: The market may not be ready for the new product, leading to slower adoption. 5. Customer Expectations: Failing to meet customer expectations can result in negative feedback and low sales.